In brief
The government of the Province of Mendoza has called for a national and international tender to select the most suitable bids and award concessions for the exploitation of hydrocarbons in the following areas:
- Atamisqui, 214.64 km2
- El Manzano, 608.47 km2
- Loma Cortaderal-Cerro Doña Juana, 246.54 km2
- Molina Norte Post, 157.30 km2
- Puntilla del Huincan, 237.44 km2
In focus
The specific conditions for granting the areas include the following:
- The initial payment is equivalent to 0.5% of the projected cumulative production (Np) for the first 10 years of the exploitation plan. The concessionaire may pay this amount pro rata from the start of the concession and for a maximum period of 10 years, provided that the request is made to the enforcement authority within 30 calendar days following the publication of the award decree.
- The term of the exploitation concession is 25 years, starting from the date of publication of the granting decree in the official gazette.
- The existing environmental liabilities will not be borne by the concessionaire.
The tender will be managed by the Hydrocarbons Directorate, under the Subsecretary of Energy and Mining, as the enforcement authority of Laws No. 17,319 and No. 7,526, which will define the deadline for the purchase of specifications, delivery of technical information, submission of bids and opening date.
The value of the bidding terms and conditions is USD 15,000, payable in Argentine pesos at the exchange rate of Banco de la Nación Argentina on the business day prior to payment. Payment should be made to peso current account No. 0020034-9 081-1, CBU 0070081820000020034913, held by Fideicomiso de Actividades Hidrocarburiferas, CUIT No. 30-71723926-8, as approved by Decree No. 909/2021.
Relevant link here.
Franco Sinagra, Associate, has contributed to this legal update.